Public Worker Pensions in Oregon to Go Green as Lawmakers Shift Money Away From Oil and Gas
The Sierra Club, America’s most influential and largest grassroots environmental organization, has praised the Oregon Legislature for recognizing the economic threats that climate change poses to the retirement savings of public workers.
Legislators Direct State Treasurer to Hold Polluters Accountable
A news statement released by the organization follows the decision by lawmakers to direct the State Treasurer to hold polluters accountable and to clear retirement investment savings of its fossil fuel portfolio by investing in green energy alternatives.
Known as the Oregon Climate Resilience Investment Act, State Treasurer Elizabeth Steiner has also praised lawmakers for passing House Bill 2081A with bipartisan support.
The new law encourages the Oregon State Treasury (OST) to invest more in clean energy in its management of the Oregon Public Employee Retirement Fund (OPERF), aiming to support the state’s shift toward a more sustainable energy future.
According to Steiner, the OST manages $101 billion OPERF assets and has the 17th largest retirement fund in the nation. Fossil fuel investments accounted for 3.7% of OPERF’s holdings in 2021.
New Law Keeps Oregon at the Forefront of State Climate Investment Legislation
Steiner says the new law will keep Oregon at the forefront of state climate investment legislation, as only a handful of state and municipal public employee pension funds have announced emission reduction targets, with few states passing positive climate investment legislation.
The new legislation directs the OST to analyze and report on the risk levels of fossil fuel investments in the state’s public pension fund; and reduce the carbon footprint of PERS by investing in green energy alternatives.
Damon Motz-Story, director of the Sierra Club’s Oregon Chapter, praised local lawmakers for giving PERS a mandate to implement a sustainable investment plan. He says the extreme wildfires experienced in the state were a clear signal of a worsening climate crisis.
In its 2025 annual report, the Sierra Club revealed that Oregon PERS was placed sixth out of 32 pensions, achieving an overall ‘B’ grade. The report was titled: ‘The Hidden Risk in State Pensions: Analyzing U.S. Public Pensions’ Responses to the Climate Crisis in Proxy Voting.’
The Sierra Club has millions of members. It protects the right of all to have access to the outdoors. The club promotes clean energy, wildlife protection, and the preservation of untamed areas through grassroots activism, lobbing, public education, and legal action. For more information visit www.sierraclub.org.